June's First-Time Homebuyer Report for Santa Monica

Santa Monica is a larger than average city in California with a population of 89,736 residents, and it has a much higher than average density compared to the rest of the state, with 10,664.1 people per square mile. West Los Angeles, West Los Angeles, and West Los Angeles are its three most populated neighborhoods. It should be noted that at 66.0%, most homes are being rented in Santa Monica. The top school in the city is Roosevelt Elementary School.

Price Range

Homes in Santa Monica are generally more expensive than others in the state with a median home value of $824,800 and an average list price of $1,946,921. The homes with the lowest value are in West Los Angeles, West Los Angeles, and West Los Angeles.

Typical Dwelling

A two-bedroom condo valued around $1,295,735 is considered a typical dwelling in Santa Monica. If a buyer was looking for a similar home, they would need good credit and a $259,147 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $7,055 and the property tax rate is $7.73 per $1,000 of taxable assessed value.

Get started right now by checking out Santa Monica homes for sale or reviewing Santa Monica real estate trends.


Data reported through 6/15/2017

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